31st Oct 2007 07:01
Steel Authority Of India Ld31 October 2007 STEEL AUTHORITY OF INDIA LIMITED REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003 Unaudited Financial Results for the half year ended on 30th September 2007 Rs./Millions Quarter ended Half year ended FinancialSl. No Particulars ( Unaudited ) 30th September 30th September year ended 30th September 30th September 2007 2006 31st March 2007 2007 2006 (Unaudited) (Reviewed) (Audited) 1 Gross sales/ Income from operations 105840.00 98196.40 197900.60 179567.50 397335.80 Less : Excise Duty 14205.10 12778.40 25871.00 24108.60 52655.402 Net sales / Income from operations 91634.90 85418.00 172029.60 155458.90 344680.40 3 Interest Earned 2869.80 2019.50 5739.80 3452.70 7526.004 Other Income 172.80 241.10 372.10 320.60 866.10 5 Total Income ( 2+3+4 ) 94677.50 87678.60 178141.50 159232.20 353072.50 6 Expenditure a) Increase(-)/Decrease in 561.70 2368.20 -7889.10 -5127.20 -2465.20 stock-in-trade b) Consumption of Raw Materials 29634.70 30467.90 59542.50 59210.60 122608.20 c) Purchase of traded goods 1.60 2.30 1.70 5.20 12.90 d) Employees' cost 14911.30 10420.30 29392.20 22287.40 50874.20 e) Consumption of stores & spares 6778.30 6478.20 14121.50 12641.60 26054.90 f) Power & Fuel 6889.00 6372.90 13629.30 12697.10 25788.40 g) Depreciation 3012.00 3034.60 6023.90 5993.40 12114.80 h) Other Expenditure 6567.40 5975.00 13111.80 12607.70 26118.50 Total Expenditure ( a to h ) 68356.00 65119.40 127933.80 120315.80 261106.707 Profit before Interest & Tax ( 5-6 ) 26321.50 22559.20 50207.70 38916.40 91965.80 8 Interest 593.60 924.10 1390.00 1860.80 3321.309 Exceptional items 0.00 0.00 0.00 -5581.70 -5581.7010 Profit from ordinary activities 25727.90 21635.10 48817.70 42637.30 94226.20 before tax ( 7-8-9 )11 Provision for Taxation (a) Current Tax 8606.00 7902.70 16329.50 16123.70 32991.20 (b) Fringe Benefit 67.00 61.10 135.00 122.00 264.80 Tax (c) Deferrred Tax 52.50 -445.90 99.60 -1589.70 -718.00 Liability / Assets ( - ) (d) Earlier years 0.00 -310.90 0.00 -310.90 -334.70 Sub-Total ( a to d ) 8725.50 7207.00 16564.10 14345.10 32203.30 12 Net Profit from ordinary activities 17002.40 14428.10 32253.60 28292.20 62022.90 after Tax ( 10-11 )13 Extraordinary items (net of tax 0.00 0.00 0.00 0.00 0.00 expense Rs. Nil)14 Net Profit ( 12-13 ) 17002.40 14428.10 32253.60 28292.20 62022.9015 Paid up Equity Share Capital 41304.00 41304.00 41304.00 41304.00 41304.00 ( Face value : Rs. 10 per share )16 Reserves (excluding revaluation 0.00 0.00 0.00 0.00 131827.50 reserve ) & surplus17 Earnings per share - Basic and 4.12 3.49 7.81 6.85 15.02 Diluted ( Not Annualised ) ( Rupees )18 Aggregate of public share holding - Number of shares 58,48,32,010 58,40,67,725 58,48,32,010 58,40,67,725 58,41,63,425 - Percentage of share 14.16 14.14 14.16 14.14 14.15 holding Notes: i) The above results for the half year ended 30th Sept., 2007 were taken on record at the Board of Directors' meeting held on 30th October, 2007. ii) The Company has two subsidiary companies: a) IISCO Ujjain Pipe & Foundry Co. Limited (IISCO-Ujjain) and b) Maharashtra Elektrosmelt Limited (MEL). The 'IISCO-Ujjain' is in liquidation. The consolidated figures including 'MEL', for the half year ended 30th September, 2007 are as follows: a) Turnover (Gross) (Rs. in 194250.90 millions ) b) Net profit after tax - do - 32387.40 c) Earnings per share (basic & (In 7.84 diluted) (not annualised) rupees) iii) The information on Investors' complaints pursuant to clause 41 of the listing agreement for the quarter ended 30th September, 2007: Opening Balance Received Resolved Closing balance during the during the quarter quarter 1 19 19 1 iv) Figures for the previous periods have been regrouped, wherever necessary. SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED (Rs. in Millions)PARTICULARS Half Financial Quarter Ended Year Ended Year 30th September 30th 30th September 30th Ended September September 2007 2006 2007 2006 31.03.2007 (Unaudited) (Reviewed) (Unaudited) (Reviewed) ( Audited ) Segment Revenue (Net sales / Income for Operations) - Bhilai Steel Plant 30164.90 30929.60 59874.80 60785.40 123257.80 - Durgapur Steel Plant 11704.80 9454.40 21764.40 16810.10 40322.40 - Rourkela Steel Plant 15834.60 14019.70 28240.30 25256.80 56262.10 - Bokaro Steel Plant 27315.20 24317.90 50408.10 45836.00 101812.40 - IISCO Steel Plant 3701.90 3373.60 7105.40 5775.10 14457.50 - Alloy Steel Plant 2013.10 1930.10 3748.30 3546.90 7066.70 - Salem Steel Plant 3232.50 3107.10 5844.80 5363.70 11698.20 - Visvesvaraya Iron & Steel Plant 1698.80 1525.10 3263.00 2810.70 6648.50 - Others 2047.40 2234.30 4977.50 4766.10 9350.90Total Segment Revenue 97713.20 90891.80 185226.60 170950.80 370876.50Less : Inter-Segment Revenue 6078.30 5473.80 13197.00 9910.20 20614.40Net sales / Income from Operations 91634.90 85418.00 172029.60 161040.60 350262.10 Segment Results (Profit(+)/Loss(-) before interest and tax) - Bhilai Steel Plant 10722.30 10323.10 21117.20 22420.50 42862.40 - Durgapur Steel Plant 1766.20 813.40 4046.00 2193.90 6392.30 - Rourkela Steel Plant 4166.20 3323.30 6612.80 5908.60 13692.00 - Bokaro Steel Plant 7096.90 6311.90 12901.40 11440.00 27711.30 - IISCO Steel Plant -391.90 -519.90 -585.20 -1078.50 -2453.70 - Alloy Steel Plant 9.40 58.80 46.60 105.70 227.30 - Salem Steel Plant 302.60 212.90 578.50 243.10 1235.50 - Visvesvaraya Iron & Steel Plant -77.80 -101.30 -142.90 -82.30 -298.00 - Others 2727.60 2137.00 5633.30 3347.10 8178.40 Total 26321.50 22559.20 50207.70 44498.10 97547.50 Less : Interest Expenses 593.60 924.10 1390.00 1860.80 3321.30 Profit before tax 25727.90 21635.10 48817.70 42637.30 94226.20 Capital Employed ( Segment assets less segment liabilities excluding Inter unit Balances ) - Bhilai Steel Plant 25320.10 24733.90 25320.10 24733.90 24421.20 - Durgapur Steel Plant 26607.50 29869.30 26607.50 29869.30 27438.70 - Rourkela Steel Plant 29004.70 33100.40 29004.70 33100.40 31256.90 - Bokaro Steel Plant 18854.10 19900.80 18854.10 19900.80 21604.50 - IISCO Steel Plant -1366.10 -1493.20 -1366.10 -1493.20 -2373.80 - Alloy Steel Plant 6195.40 2678.20 6195.40 2678.20 4573.50 - Salem Steel Plant 7362.30 5598.40 7362.30 5598.40 6052.90 - Visvesvaraya Iron & Steel Plant 4828.00 4145.60 4828.00 4145.60 4449.00 - Others 134854.80 87867.30 134854.80 87867.30 111640.40Total Capital Employed in the Company 251660.80 206400.70 251660.80 206400.70 229063.30 Note : Segments have been identified in line with the Accounting Standard -17 on Segment Reporting taking into account the Organisation and Management structure and also Internal Financial Reporting System though the Company primarily deals in Iron & Steel items. Segment Revenue, Results and Capital Employed include the respective amounts identifiable to each of the segments. On behalf of Board of Directors . (Soiles Bhattacharya) . Director (Finance) . Place : New Delhi Date : October 30, 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Stl.au.ind.gdr